MISTAKE #13: You’re thinking of your prospects demographically, not psychographically

How would you describe the target audience for your product?  Who is the prime prospect?   

Hopefully, you’ve got one and it isn’t “anyone with a buck in their pocket.”

How close are they to a middle-aged, middle-income suburban mom?

Is it a persona you’ve named Judy?

Odds are good that you primarily describe your prospect in demographic terms.  I know this because it is both easy and comfortable to use measures that can be readily observed or quantified.  It is great to discretely segment the population into mutually exclusive buckets.

Okay, so now explain why this is your target.  What information had you arrived at in your prospect profile?  Is it because of their demographics?  Are you targeting someone because they are middle age or because they make a certain amount of money?

In many situations…and probably more today than any time in history…demographics are incomplete or inaccurate dimensions to define your audience.  It is still critically important to understand the demographics of your prospects, but it is far from enough.

In fact, the demographics are most likely derived from other aspects of your prospects; they are not the driving reason behind why certain people are high-value prospects and others are not.  At the same time, demographics influence and shape psychographics. 

Being a first-time parent of a newborn creates shared hopes and fears and challenges among that group.  Ultimately, those hopes and fears, and challenges drive purchase behaviors more than the state of having a child.

Being a weekend warrior that enjoys doing DIY projects heavily influences many shopping and buying habits beyond grocery and household staple categories.  The enjoyment of tinkering or fixing what is broken prompts buying tools and glue and parts instead of just replacing the item.

Being addicted to stacking deals and coupons or viewing shopping as a treasure hunt is as likely to influence what items are bought as actual limitations due to income.  The process of beating the system is at least as satisfying as owning the item purchased. 

Defining your prospect primarily by demographics without rich psychographics leaves an incomplete picture. 

THE OMNI-SHOPPER TRANSCENDS DEMOGRAPHICS

The advent of the omnichannel experience has further mitigated the utility of using demographics to guide marketing spending.  Geographic barriers no longer limit an individual’s marketplace.  With a mailing address and a credit card, almost anyone can buy almost anything no matter where they live. 

Adding to this, the internet has allowed companies to micro-target their audience.  Which begins with understanding the psychographic profile of prospects.  Understanding what makes them tick, what they are curious about, and what their hobbies and interests are will help identify where they hang out online.  It will tell you what type of content they’ll seek out or respond to.

            Are they looking for a list of facts and features?

Are they looking for customer reviews or instructional videos on the experience of using your product?

Are they searching for coupon codes and rebates and discounted bonus packs?

Having a clear understanding of who this audience is beyond demographics allows you to focus on what you say, where you say it, and how you say it to be as appealing as possible.

In many situations, having shared attitudes and aspirations can be more predictive of decision-making and habits than having the same skin color, being a similar age, or making a similar income.  And it can provide far better guidance related to what message is most likely to trigger action from your prospects.

While I don't have data to prove it, I’d bet one can better predict and influence a person’s purchase habits in many categories based on a clear understanding of their psychographics more than their demographics.

DEFINE YOUR WHO

How much do you need to still learn about your prospect?

Can you paint a complete picture of your prospect's psychographic profile?  Have to take time to understand what makes them tick?  Can you articulate your prospects’ attitudes or aspirations as they relate to your product?

Or do you still think your recipe for success is to simply target a middle-aged, middle-income suburban mom you affectionately call Judy?